(iv) OPINIONS: (i) an opinion reasonably satisfactory in form
 and substance to Lessor (based on New York law) by
 Greenberg Traurig, P.A., (ii) an opinion reasonably
 satisfactory in form and substance to Lessor (based on
 Panamanian law) by Galindo Arias & Lopez, Panamanian
 counsel to Lessee, (iii) at Lessor's cost, an opinion
 reasonably satisfactory in form and substance to
 Beneficiary by Patton, Moreno & Asvat, Panamanian
 counsel to the Lessor and Beneficiary, with respect to
 Panamanian law; and (iv) at Lessor's cost, a
 jurisdictional review by Patton, Moreno & Asvat,
 Panamanian counsel to Lessor and Beneficiary, as to the
 rights of creditors and lessors of aircraft under
 Panamanian law, satisfactory in form and substance to
 Beneficiary;

 (v) APPROVALS: evidence of the issuance of each approval,
 license and consent which is required in relation to, or
 in connection with the performance by Lessee of any of
 its obligations under this Agreement and the other
 Transaction Documents;

 (vi) LICENSES: copies of Lessee's air transport license, air
 operator's certificates and all other material licenses,
 certificates and permits required by Lessee in relation
 to, or in connection with, the operation of the
 Aircraft;

 (vii) CERTIFICATE: a certificate of a duly authorized officer
 of Lessee:

 (a) setting out a specimen of the signature of each
 Person authorized to execute documents on behalf
 of Lessee pursuant to the resolutions referred to
 in Clause 3.1(a)(iii);